Security Vendor Infoblox Acquired for $1.6B

The move, announced on Sept. 19, comes after Infoblox Inc. unveiled plans in June to divest 12% of its workforce. Infoblox, which was founded in 1999, went public in 2012 and will go private as a result of this deal.

"This transaction will provide immediate and substantial value to Infoblox stockholders, while also giving Infoblox greater flexibility to execute on our long-term strategy to drive increased DDI automation and DNS [domain name server] security into the enterprise market," said Jesper Andersen, president and CEO of Infoblox, in a statement.

The company's stock price soared yesterday, following news Infoblox had agreed to be acquired. Vista Equity will pay $26.50 per share in cash, a 73% premium to the stock price on May 11 when initial reports of a potential acquisition first emerged. That puts Infoblox at a valuation of $1.6 billion -- or approximately 4.5 times its fiscal 2016 sales. Total net revenue last year was $358 million, a 17% increase from $306 million in the period 12 months prior, according to Infoblox.

The company now is part of "one of the most active private equity firms of the year," writes TheStreet. Earlier in 2016, Vista Equity purchased marketing software company Marketo for $1.79 billion and Cvent, an event management software developer, for $1.65 million.